India central bank holding rates steady

The Reserve Bank of India  keeps repo rate steady, monitoring global financial turbulence. Policy stance remains focused on withdrawal of accommodation. MPC retains key lending rate at 6.5%. RBI Governor signals further rate hikes possible. RBI’s decision to pause due to financial stability concerns. Inflation still above target range, GDP growth seen at 6.5% in FY24. Decision to hold interest rates unanimous. Government bond yields drop after surprise announcement.